Flexible Mortgage Refinance Terms

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Get the answers you need from one of our dedicated specialists.

We offer quick turnaround times with same day advice.
Refinance solutions that matter to you and your financial health.
Take control of your cash flows with mortgage products that make sense.

Bruised Credit and Mortgage Refinancing

When Should I Consider Refinancing?

There are many reasons to consider refinancing you mortgage. You could be planning to update your home or looking to clean up your credit. You could be looking to invest your equity in an income property.  If your mortgage is up for renewal (maturity date) this is perhaps the perfect time to consider a refinance, home equity line of credit or home equity loan.

Refinancing your mortgage borrow against the equity in your home. If you have large bills due, home improvement needs, or the simple urge to reorganize expenditures and improve monthly cash flow using the equity built up in your home can help you save on interest.  If you have been struggling financially, your home equity can help improve your monthly cash flow. We can help you quickly and easily discover all the financing options available to you – options you may have never even have thought possible.

Mortgage Refinancing Can Help:

  • Consolidate your high interest debt(s)
  • Pay off income tax and/or property tax arrears
  • Cover the costs of necessary home repairs, renovations or the replacement of broken or inefficient appliances
  • Catch up on any/all past due bills/accounts

Whatever the reasons, if you want to refinance your mortgage and are coming up short – we can help.

What things do lenders look at when looking at my application?

To find out what you qualify for there are common factors taken into consideration by any lender, even your bank. Things like your credit score, gross annual income, property value and location play a large part in determining what type of financing you qualify for. This may seem overly complex but that is were our experience comes in handy.

The credit score impacts the number of lenders we can secure financing through. If your score is bruised there a still a ton of options available to you. Some lenders can even graduate you from one mortgage to another once your credit is improved.

Another important piece to the puzzle is the story behind your income. Lenders need to understand the way you make your money because it reassures them that you have the financial ability to pay them back. Even for those that are self-employed, proof of income through bank statements will help to provide a sense of cash flow and how you generate income.

Key benefits of a mortgage refinance?

There can be so many benefits to refinancing your existing mortgage. If you have debt but are worried about your mortgage balance increasing you can take comfort knowing that you would be borrowing at a much lower rate than your credit card, loan or unsecured line of credit.

Remortgaging can help you relieve a ton of pressure and stress. Consolidating your monthly payment obligations in one single payment or even two can have a big impact on your mental state. Life can be busy and that means having to juggle many things like work, family, and even friends. When you add all those things into the mix with your financial woe’s things can start to weigh down on you.

Cause and effect of completing home equity financing

  • Improve your credit score in 6 to 12 months
  • Reduce the amount of active credit you are relying on which has an affect on your credit report
  • Reduces monthly expenses
  • Borrow at much lower interest rates and reduce the amount of interest paid each month to your creditors
  • Improves your mental well being
  • Qualify for credit much faster and easier as time passes

If you’re thinking about a refinance and just not sure of how it can help you give us a call and member of our team would be happy to walk you through your options. With several years of leading industry experience and access to top lenders in the market we can help find a mortgage solution for you.